What is a business loan?
Short Term Business Loans are used by thousands of businesses each year Australia wide, who need urgent access to large sums of money. A business loan needs to be repaid by the company or individual according to the loans terms and conditions.
It can be frustrating if your invoices are going unpaid. When it has been months, the impact on your cash flow is going to become more and more pronounced. Effective financing is the foundation of any good company. Some businesses use their business loans to pay towards office supplies, wages & super, business projects, cash flow, purchasing an office or storefront, advertisement expenses etc.
Majority of people have to go to the bank, they’re dependable and always there.
What happens when that’s the problem? Banks are always slow with their decisions and don’t always work in your favour. When you need a fast answer, the protocols can frustrate you when you’re on a time clock.
At Prime Finance, you’re speaking confidentially and directly with a person who has the power to make decisions. This makes our credit approval fast. Prime Finance is flexible and does not meet traditional lending requirements, we look at every kind of Business loan and settle within a period of 3-7 working days.
Prime Finance is a provider of business funding solutions in Australia. We believe in developing a genuine relationship with our clients, to find the product that is most suitable for their needs. Short term loans can be a fast settling solution to any business cash flow complication, discuss it with our team today.
With 20 years of experience, Prime Finance understands the hassle of jumping through the hoops just to apply for a business loan at a bank, let alone the wait time for getting an approval, contact us today. Prime Finance’s rate of 1% for all business loans is the most competitive rate in Australia.
Reasons to take out a business loan.
- Purchase of a business
- Purchase of new plant or equipment
- Purchase of stock
- Paying tax or other work related expenses eg. wages, legal fees, advertising etc
- Business repairs and maintenance
- Working capital
- Council approvals/Head works
- Bridging the unexpected “gap”
- Funding a commercial or industrial property purchase when the bank cannot settle in time.
- Funding a residential investment property purchase where the property is to be owned in a trust or company name
Prime Finance business loans can be used for a short- term or intermediate term.
Short term business loans are no longer than a 12 month period or as short as one month.
Intermediate term business loan
Intermediate term business loans usually have a term to maturity of 1 – 3 years.
Prime Finance business loan product guides
- Loans up to 1.5 million dollars
- LVR up to 80% of as is value (terms and conditions apply)
- Business loan rate is 1% per month
- Loan term is 1 month to 2 years
Acceptable business loan securities
- Residential properties in metropolitan areas
- Rural / Residential properties (population over 50,000)
- Commercial properties
- Industrial properties
- Vacant Land (in metropolitan areas only, LVR up to 75%)
- Development sites (subject to terms and conditions)
100 points of ID Requirements for Prime Finance Application
|Document Type||Point Value|
|Australian Student Photo ID Card issued by a tertiary education institution.||40|
|Pension or concession card||40|
|Name and address confirmed by current employer (within last 2 years)||35|
|Public Utilities record ( 1 only)||25|
|Financial Institution passbook, debit or credit card (1 only)||25|